What are the advantages of having an S Corp?
An S Corp is actually dictated by the IRS. That’s where the letter ‘S’ comes from. It falls under an IRS code and really, the advantage is all tax. It allows you to be taxed as if you’re an individual, or an LLC. Not the same way that a C corporation or a general corporation would be taxed, which would be double taxing. The real advantages are almost straight forward from the IRS.